Cantor Fitzgerald reaffirmed their buy rating on shares of Horizon Pharma PLC (NASDAQ:HZNP) in a research report sent to investors on Monday. They currently have a $17.00 price target on the biopharmaceutical company’s stock.
“We are maintaining our Overweight rating and $17, 12 month PT for HZNP shares, but lowering our 2017 and 2018 EPS estimates because we have taken out some sales for the Raptor franchise now that Horizon has completed the sale of its EU marketing rights to Chiesi (Not Covered). We continue to expect Krystexxa sales to be impacted by the 340b program in 4Q17, which could prove conservative. Please see our note for details Potential HHS Delay Could Be Positive for HZNP’s Krystexxa Sales This Year. We expect orphan drug sales to increase 50% YOY which is in line with Horizon’s guidance, and rheumatology sales to increase 37% YOY, which is also roughly in line with Horizon’s guidance. Valuation. We use a blend of DCF and multiples (EV/EBITDA) analysis to get to our 12-month price target of $17.”,” Cantor Fitzgerald’s analyst wrote.
Several other research firms have also issued reports on HZNP. Piper Jaffray Companies set a $17.00 price target on Horizon Pharma PLC and gave the stock a buy rating in a research report on Tuesday, July 25th. BidaskClub upgraded Horizon Pharma PLC from a hold rating to a buy rating in a research report on Saturday, June 24th. Zacks Investment Research upgraded Horizon Pharma PLC from a sell rating to a hold rating in a research report on Friday, August 11th. UBS AG set a $16.00 price target on Horizon Pharma PLC and gave the stock a buy rating in a research report on Tuesday, August 8th. Finally, Mizuho restated a hold rating and issued a $12.00 price target (up from $9.00) on shares of Horizon Pharma PLC in a research report on Monday, August 28th. Five investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $18.67.
Shares of Horizon Pharma PLC (NASDAQ HZNP) opened at 12.29 on Monday. The stock’s 50 day moving average price is $12.83 and its 200-day moving average price is $13.07. Horizon Pharma PLC has a 12 month low of $9.45 and a 12 month high of $21.98. The firm’s market capitalization is $2.01 billion.
Horizon Pharma PLC (NASDAQ:HZNP) last posted its quarterly earnings results on Monday, August 7th. The biopharmaceutical company reported $0.41 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.12 by $0.29. Horizon Pharma PLC had a positive return on equity of 22.85% and a negative net margin of 42.40%. The business had revenue of $289.51 million for the quarter, compared to analyst estimates of $237.01 million. During the same period last year, the company earned $0.56 EPS. The firm’s revenue was up 12.5% on a year-over-year basis. On average, equities research analysts predict that Horizon Pharma PLC will post $1.08 EPS for the current fiscal year.
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Institutional investors have recently modified their holdings of the stock. Bank of Montreal Can raised its stake in Horizon Pharma PLC by 16.3% during the 2nd quarter. Bank of Montreal Can now owns 9,809 shares of the biopharmaceutical company’s stock worth $116,000 after buying an additional 1,378 shares during the period. Sheaff Brock Investment Advisors LLC raised its stake in Horizon Pharma PLC by 5.0% during the 2nd quarter. Sheaff Brock Investment Advisors LLC now owns 10,500 shares of the biopharmaceutical company’s stock worth $125,000 after buying an additional 500 shares during the period. Family Management Corp acquired a new stake in Horizon Pharma PLC during the 2nd quarter worth $131,000. Ballentine Partners LLC acquired a new stake in Horizon Pharma PLC during the 2nd quarter worth $139,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in Horizon Pharma PLC during the 1st quarter worth $151,000. 82.30% of the stock is currently owned by institutional investors and hedge funds.
About Horizon Pharma PLC
Horizon Pharma Public Limited Company is a biopharmaceutical company. The Company is focused on identifying, developing, acquiring and commercializing differentiated and accessible medicines that address unmet medical needs. As of December 31, 2016, the Company marketed 11 medicines through its orphan, rheumatology and primary care business units.
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